If you want to use logic then i suggest doing some math.
FAR has 2.7Bn shares on issue according to google finance . So at SP of 11c its valued at $300M - not including any options.
FAR has 15% project ownership of the senegalese project everyone is buying it for - so if we assume say 90% of FAR's current SP is based on the value of those projects, then the entire senegalese project is being valued at about $1.8Bn.
That is a huge value to ascribe to a project that isnt confirmed on scale or commerciality - so after excitement you will likely see a fair bit of second guessing of just how much FAR is worth.
After a very large capital raising like FAR has done - you should expect a fair period of consolidation - esp when oil price has been weak.
So i;d expect the stock will probably go back into high single digits and then consolidate until newsflow confirms commerciality.
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Last
48.5¢ |
Change
-0.010(2.02%) |
Mkt cap ! $44.81M |
Open | High | Low | Value | Volume |
49.5¢ | 49.5¢ | 48.5¢ | $34.87K | 70.84K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 27749 | 48.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
49.0¢ | 10897 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 27749 | 0.485 |
3 | 83930 | 0.480 |
3 | 85000 | 0.475 |
2 | 78150 | 0.470 |
1 | 5000 | 0.465 |
Price($) | Vol. | No. |
---|---|---|
0.490 | 10005 | 1 |
0.505 | 10000 | 1 |
0.510 | 69689 | 1 |
0.515 | 2239 | 1 |
0.520 | 30000 | 1 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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